might be because a lot of people feel elves need to special in some form, even when everyone else is just "variant human", like dwarves are basically grouchy shortstacks asf.
you could make them an old race with slightly higher lifespan but still on their way out, basically "how would a sentient race knowing they going extinct deal with it?". go full emo lotr elves, nazi to preserve what they have left, or all out in blaze of glory not giving a fuck anymore (think roided up elf barbarians: the race)?
the other problem with elves is none of their stereotypes are "bad" in a way. dwarves are basically more honorable humans with a temper and a long memory for grudges, orcs are dumb but honorable brutes,
hobbits halflings are pacifist antifa. meanwhile elves always end up as "superior humans" either wise, old, mystical or a combination of it. even the racial supremacist angle isn't usually negative since it's either for their protection (they're either so pretty or rare people want to fuck or capture them, usually both) or "we know we're better, fuck off, pool's closed" - and the times they're actually expansionists they could be any other race, nothing that would make them elves (now that I think about it, spock was basically a stereotypical elf)
the dwarves books had your standard fare elves being conniving cunts to the point everyone mistrusted them at best, and an interesting take that they were the in danger of getting corrupted and basically turning into dark eldar complete with flesh sculpting and shit (still reminds me of dragonlance in some way, but since it's been a while since I read it might just be my imagination). so even when they were pals you always had to remember they were a ticking timebomb waiting to go off.
nothing really mindblowing new but an interesting mix (the books, while very popular over here, never really grabbed me like it did a lot of normies - and I say that as someone who likes grouchy shortstacks the most. so take it with a grain of salt. still haven't finished the fifth one and every time I try I drop it again at some point).